Wyndham Hotels & Resorts, Inc. (WH) Tops Q2 EPS by 15c, Revenues Beat
Wyndham Hotels & Resorts, Inc. (NYSE: WH) reported Q2 EPS of $0.10, $0.15 better than the analyst estimate of ($0.05). Revenue for the quarter came in at $258 million versus the consensus estimate of $251.69 million.
- Diluted loss per share was $1.86, and adjusted diluted earnings per share was $0.10.
- Net loss was $174 million for the second quarter and adjusted net income was $9 million.
- Adjusted EBITDA was $63 million.
- System-wide rooms remained flat year-over-year.
- Global comparable RevPAR declined 54% year-over-year.
- Paid quarterly cash dividend of $0.08 per share.
"We generated positive adjusted EBITDA in the second quarter, driven by our drive-to and leisure-oriented franchise business model, along with our immediate and concerted cost savings initiatives," said Geoffrey A. Ballotti, president and chief executive officer. "We were pleased to see a steady improvement in Average Daily Rate, Occupancy and RevPAR over the past three months. Our select-service, small business owners are uniquely positioned to both remain open and capture emerging travel demand, whatever the shape of the recovery may be. Approximately 85% of our hotels have remained open globally throughout the pandemic, and over 99% of our domestic hotels are open today. Importantly, our economy and midscale brands continue to outperform versus their local markets. We remain committed to supporting our owners during this difficult period, while showing our guests and team members that they can "Count on Us" to put their safety first."
For earnings history and earnings-related data on Wyndham Hotels & Resorts, Inc. (WH) click here.
